DoorDash (NASDAQ:DASH) Releases Earnings Results, Beats Expectations By $0.01 EPS

DoorDash (NASDAQ:DASH) released its quarterly earnings data on Wednesday. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01, Briefing.com reports. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the business posted ($0.41) EPS. DoorDash’s quarterly revenue was up 23.5% on a year-over-year basis.

DoorDash Stock Down 10.3 %

DoorDash stock traded down $13.17 during midday trading on Thursday, hitting $114.29. The company’s stock had a trading volume of 19,934,152 shares, compared to its average volume of 3,829,653. DoorDash has a 12 month low of $60.36 and a 12 month high of $143.34. The company has a market capitalization of $46.17 billion, a PE ratio of -78.87, a price-to-earnings-growth ratio of 14.38 and a beta of 1.78. The stock’s 50-day moving average price is $132.16 and its 200-day moving average price is $109.84.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 3,500 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $435,750.00. Following the transaction, the insider now owns 161,102 shares of the company’s stock, valued at $20,057,199. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $109.71, for a total value of $76,797.00. Following the transaction, the director now directly owns 71,514 shares of the company’s stock, valued at $7,845,800.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $435,750.00. Following the sale, the insider now directly owns 161,102 shares in the company, valued at $20,057,199. The disclosure for this sale can be found here. In the last quarter, insiders sold 480,782 shares of company stock worth $63,130,157. Corporate insiders own 9.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on DoorDash from $108.00 to $111.00 and gave the stock a “neutral” rating in a research report on Thursday. Benchmark reduced their price objective on DoorDash from $165.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday. BMO Capital Markets decreased their price objective on DoorDash from $138.00 to $127.00 and set an “outperform” rating on the stock in a research note on Thursday. Piper Sandler raised shares of DoorDash from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $127.00 in a research note on Friday, March 15th. Finally, The Goldman Sachs Group raised their price target on shares of DoorDash from $109.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $129.40.

About DoorDash

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.